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Maintaining ownership of income generating assets and keeping them productive over time involves work and taking risks to adapt them to changing times. If they can do that, then they ought to be the ones doing it.

Most assets are maintained (the productiveness of, the ownership of) today with fiat subsidies.

Laeserin 1y ago

You can just own assets and demand rents. I guess you would have to build armies to protect your rents, which is effort, but probably not very productive.

It'll be like in the medieval ages, under the gold standard, where people who owner the gold make the rules and demand tolls through gatekeeping and soldiers.

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Discussion

stupleb 1y ago

I think that's only possible when you have an illiterate peasantry without the tools necessary to mass organize and shoot you.

Laeserin 1y ago

Yes. Which is why I think Bitcoin will lead to peasant organisation through government and laws.

stupleb 1y ago

Which means we always seem to come to a system that's about 50% better than now, rather than 100%.

Laeserin 1y ago

Yeah.

We'd have better money, but some assholes will have a disproportionate amount of that money, and other men will have to organize to stop them from agitating like Bitcoin Warlords.